In a filing to Bursa Malaysia, Tropicana Corporation Berhad (“Tropicana” or “Group”) announced its unaudited financial results for the financial period ended 30 September 2025. For this period, the Group recorded revenue of RM1.0 billion, representing an increase of RM135.1 million or 15.4% compared to the corresponding period of the previous financial year. The higher revenue was mainly driven by increased progress billings across key projects in the Klang Valley, Southern and Northern regions.

Image above: Prime landbank - Tropicana has a sizeable landbank in the booming Johor market. One of its star developments is Lido Waterfront Boulevard fronting the beautiful straits of Johor

Seafront living: An artist’s impression of Skypark Kepler at Lido Waterfront Boulevard, positioned as the first branded residences by Banyan Group in Johor

The Group reported a profit before tax (“PBT”) of RM0.7 million, compared to a loss before tax (“LBT”) of RM435.9 million in the preceding year. The improvement in performance was primarily attributable to the absence of the one-off provision for foreseeable losses of divestment properties, as well as higher progress billings arising from the advanced stages of construction work for the Group’s ongoing projects.

Earlier on October 2025, the Group announced its fulfilment of payment obligations of RM139 million, a Tranche 4 payment under its RM1.5 billion Islamic Medium-Term Notes (“IMTN”) Sukuk Wakalah Programme introduced in 2020, bringing total cumulative payments under the programme to RM1.12 billion. In November 2025, Tropicana has successfully completed the issuance of RM300 million IMTN, which was upsized from RM200 million amid robust investor demand and was oversubscribed, with a significant portion taken up by government-linked institutional investors.

Living it up: Tropicana Avalon is poised to be the next commercial hub in Genting Highlands, offering stylish residences and retail shops in the popular Gohtong Jaya area

Tropicana’s unbilled sales remain strong at RM2.1 billion, supporting its continued momentum in generating sustainable earnings. This is further driven by its ongoing and upcoming signature developments across Malaysia, which collectively carry an estimated Gross Development Value (“GDV”) of RM6.5 billion.

The Group remains focused on sustaining its growth trajectory through enhanced sales performance, strategic monetisation of landbanks and investment properties, and continued financial optimisation. Reflecting this positive momentum, MARC Ratings revised its outlook on Tropicana to positive from stable with an A rating. This upgrade reflects the Group’s improved balance sheet, driven by successful deleveraging initiatives and asset disposals used to reduce borrowings.

Pioneering smart living: Tropicana is the first developer to integrate Go Daikin into the T360 app. These MyHijau air conditioners will be installed in all 8 Tropicana new developments

“In line with our mission to transform Tropicana into a future-ready group committed to sustainable growth, we have prioritised strengthening our core property segment, leveraging on our expertise, our unique development DNA and ESG commitments. We extend our sincere appreciation to our Tropicana team and business partners for their unwavering support, trust and contribution to our Group,” shared the management.

Building sustainable developments: Tropicana received 2 more green building certifications this year for Tropicana Miyu, Petaling Jaya and Tropicana Cenang, Langkawi

The Group continues to gain traction in the market with 10 ongoing and new developments worth an estimated GDV of RM6.5 billion:

1. Varia Shop Offices @ Tropicana Aman, Kota Kemuning

2. Avisa Terrace Homes @ Tropicana Alam, Puncak Alam

3. Premium Green Terraces @ Tropicana Alam, Puncak Alam

4. Breeze Hill Shoppes & Serviced Apartments @ Tropicana Avalon, Genting Highlands

5. Bungalow Lots @ Tropicana Paradise @ Genting Highlands

6. TwinPines Serviced Suites @ Tropicana Grandhill, Genting Highlands

7. Clarissa Serviced Suites & Beachwalk Shoppes, Tropicana Cenang @ Langkawi

8. Skypark Kepler Branded Residences, Lido Waterfront Boulevard (“LIDO”) @ Johor

9. Fraser Heights Terrace Homes, Tropicana Uplands @ Johor

10. Bora Serviced Apartments, Tropicana Danga Bay @ Johor

Positive social impact: Tropicana hosted the largest Viper Challenge in Malaysia, promoting its projects at Genting Highlands and engaging with the target market

Delivery of Vacant Possession in FY2025 and Q1 FY2026:

1. Hana Residences @ Tropicana Aman, Kota Kemuning

2. Edelweiss Serviced Residences, SOFO & Shoppes @ Tropicana Gardens, Petaling Jaya

3. Assana and Merissa Serviced Suites @ Tropicana Cenang, Langkawi

4. Summit Commercial Hub @ Tropicana Uplands, Johor

5. Umara Shop Offices, Tropicana Aman @ Kota Kemuning

Tropicana’s current landbank stands at 1,336.1 acres, with a total potential GDV of RM168.4 billion. Tropicana is strategically positioned to unlock substantial value, drive sustained growth, and deliver long-term performance over the coming years.

This content is provided by Tropicana Corporation Berhad.

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